We all love something for nothing, but never forget that you’ll pay in the end for the ‘comps’ offered by casinos
You can trick the casino into thinking you’re a bigger gambler than you are by employing ‘comp wizardry’ | |
I’m a great believer in the cliche that there’s no such thing as a free lunch. Except, of course, if you’re in Las Vegas and take advantage of the vast array of bonuses and complimentary offers (‘comps’) on offer. It doesn’t take a psychologist to tell you that the psychology behind ‘comping’ is to get the gambler to spend more money. Comping is a legitimate psychological marketing strategy used as an incentive to get punters to gamble in the first place, or an incentive used to prolong gambling.
Here in the UK, we’re obviously not on the same level as Atlantic City or Las Vegas, but most gambling establishments offer an array of temptations to get you to gamble. These include cash-prize draws, gift raffles, tokens or credit boosts (for instance, winning additional credit on selected slot machines instead of cash), and scratch cards (which can be redeemed inside the casino). These types of marketing ploy have two main effects. Firstly, they get people exposed to the gambling environment. Secondly, they get people exposed to gambling itself.
The land of the free
The frequency of bonuses varies, but can occur hourly, daily, weekly or seasonally. Several retail environments often use these to entice the consumer in, but what makes them especially psychologically appealing in a gambling environment are the obvious similarities to the characteristics of gambling events in general (risk, uncertainty, intermittent reinforcement and non-monetary, psychological rewards). What’s more, the appeal is strengthened, as gamblers feel they’re getting something for nothing.
Comps come in many guises. These include travel amenities such as free rooms, food, drink, shows, golf, limos and so on. The easiest comps to get are free parking and fun books (which often contain coupons for free drinks, snacks and souvenirs). And you don’t even have to gamble for these: punters simply have to walk into the casino to get them. The lowest-level comp for gamblers is the ubiquitous free drink. It doesn’t matter whether you’re putting a quarter in a slot machine or laying down a grand at the poker table, casinos will serve complimentary drinks. However, remember that drinking alcohol over prolonged periods will seriously impair your judgement and rationality. The outcome is usually more money spent by the gambler, which is just what the casino wanted in the first place.
It should be no surprise, then, that the value of comps increases with the value of bets. The standard equation used by casinos to determine comps is: the size of average bet x number of hours played x the house advantage x the comp equivalency. In other words, say you play blackjack and make £10 bets for two hours. The casino multiplies 120 hands (60 an hour) by £10 and comes up with £1,200 worth of action. It then multiplies £1,200 by the 2% house advantage and comes up with £24. This is what the casino believes it will win from you on average in two hours of $10 blackjack. It then multiplies £24 by 40% (that is, what it is willing to return in comps). All of which means the gambler is entitled to £9.60 in freebie amenities.
Comps returned to the big gamblers include high-roller suites, lavish gourmet dinners, unlimited room service, en-suite jacuzzis, private pools, ringside seats at live shows or sporting events, private parties, limos and Lear jets.
Stakes for steaks
Sound good to you? It’s yours. All you need to do is bet $25,000 a hand in Las Vegas eight hours a day over a long weekend, or have a $5 million credit line. More within your reach are the comps for $25-a-bet gamblers. This might include half-price hotel room, food and beverages, and VIP tickets to the show. The $100-a-bet gamblers will usually get full room, food and beverages, meaning their whole stay is free. Simple psychological economics, but it works.
To enter the comp game, you must ‘get rated’ by the casino. The casino then records your time in, time out, average bet size and so on. The data is entered into the computer, and then casino marketing determines the comps to which you’re entitled. If you’re a slots player, the casino will use smart cards to monitor and assess your gambling.
By playing table games, the gambler can exploit the system. In short, it’s possible to trick the casino into thinking you’re a bigger gambler than you really are by employing what is known as ‘comp wizardry’. Casinos are especially vulnerable to comp system exploitation, because a player’s gambling must be observed by pit bosses. Simple tricks by the gambler include looking like a loser, slowing down the speed of play (such as playing one hand every minute and a half instead of every minute), and betting more when the pit bosses are watching and less when they aren’t. It’s the simplest psychology that can minimise your risk and maximise your reward in the comp game.